Disliked{quote} Looks long to me. it retest structure. Also I just traded this short and received a big bull candle on 4hr so I am out will re enter when its time. lets keep doing homework so we can get better. {image}Ignored
Ratios & Harmonics: a Different Way to Trade
- #11,062
- Nov 20, 2014 2:31pm Nov 20, 2014 2:31pm
{quote} My guess... {image}
Thanks Gristar and Youngcroc, your expectations were exactly spot on to the pip. Still learning so didn't place real trade, but this would have been a 50+ pip move.
Nice
The only issue i would have had is that price broke above and closed above the supply zone so i would have been tempted to go long at that point.
- #11,064
- Nov 20, 2014 5:29pm Nov 20, 2014 5:29pm
{quote} Hi Dizzle Please don't take this the wrong way I am aiming to be constructive, and of course could be wrong. 1. shouldn't you be waiting for Rotation around 61.8%? The NSL was rejected so possibly a false break on news. Chalky PS I can talk myself out of most trades
Damn The Torpedoes, Full Speed Ahead!
- #11,068
- Edited 8:39am Nov 21, 2014 8:27am | Edited 8:39am
Mr. Pip, have you taken any trades on the EU or any Euro cross today? There has been a huge move down this Friday and I wonder if harmonics, expectations and order-flow analysis would be able to catch that move. I didn't take any trade today as I was hesitant of my analysis on the EU and EJ. I wanted to post a chart on why I didn't take those trades but my charting software is going crazy on me right now. 
If it isn't so much to ask, I would like you to post a chart/s on how you would've approached the EU this Friday. Thanks. Your feedback would be much appreciated.
If it isn't so much to ask, I would like you to post a chart/s on how you would've approached the EU this Friday. Thanks. Your feedback would be much appreciated.
- #11,071
- Nov 21, 2014 9:53am Nov 21, 2014 9:53am
{quote} I know what u mean Croc When something just keeps on going in one direction its difficult to jump on board. be interesting to hear Mr Pips view on that, Chalky
He made a load of money today on EU shorting.
He just kept adding to his short, he has no fear factor because hes not been bitten by the markets yet
I guess you need a good balance of confidence and patience
{quote} I got a friend who is new to trading He made a load of money today on EU shorting. He just kept adding to his short, he has no fear factor because hes not been bitten by the markets yet I guess you need a good balance of confidence and patience
- #11,076
- Nov 21, 2014 12:48pm Nov 21, 2014 12:48pm
Here's a new setup. Still learning
As you say, the expectation was that the rebound in the supply area, for which we look for two identical swings, ie OneToOne, then we expect a decline of 38% and 61%, which would be the correction, and then therefore, the previous trend resumes in this bullish case.
Monitor and assess which type of candlestick pattern leaves in the decision regions, is essentialand the follow bar by bar.
Cheers and we, all of us, learning from Mr Pip.
- #11,077
- Nov 21, 2014 1:26pm Nov 21, 2014 1:26pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #11,079
- Nov 21, 2014 8:42pm Nov 21, 2014 8:42pm
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
Good evening traders Here is a GBPCAD trade I am in. Mr.Pip, if you can be so kind to give me your thoughs and any other that would of played it differently. I have a couple of questions too. Originally I got in on the higher kill zone after price rejected price and closed above the 1.77 handle. My stops were below the 1.76 handle and smaller AB=CD/Butterfly completion. This trigger was a failure. Should I have exited after the failure and looked to reentry on the next Kill Zone? My current career limits my trading time to a couple of hours before...
Just wanted to to post an UPDATE to my GBPCAD trade (1Hr). The bar by bar is in the chart
Lessons:
1) Listen to Price action. Go with strength and against weakness. (This is one which seem to be a repeating issue)
- I was against Order Flow on this trade and was going to manage aggressively. I was able to choke up on my stops but I should of sold when there was no more buyers present. I let a gain turn into a loss. I know, "bad form sir".
2) Dont be afraid to change expectations
3) Wait for the source (pivot point) of the NSL to be engulfed before changing long term order flow rotation.
